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Business of Fashion
4 days ago
- Business
- Business of Fashion
Under Pressure: Can Fashion's Sustainability Efforts Survive?
Every year, fashion's climate campaigners descend on Copenhagen for the Global Fashion Summit, the industry's highest-profile sustainability gathering. The event, which is typically dominated by large brands offering up a relentlessly optimistic prognosis on the industry's climate efforts, was unusually downbeat this year. Many of fashion's biggest companies were noticeably absent — a function of squeezed travel budgets and fear (few executives appeared willing to weigh in on an increasingly politically charged topic where there is little positive to say). To be sure, advocates for a greener, kinder fashion industry have quietly acknowledged that the movement was struggling for a while. But they held out hope that moves to toughen up regulation would keep forcing things forward. This year, that has all but evaporated. A rightward swing in Europe has prompted a regulatory rollback in the name of competitiveness. Brussels is pushing to cut red tape and simplify pioneering environmental reporting and due diligence requirements in a move critics argue undermines the legislation. 'Europe has failed,' Danish brand Bestseller's stakeholder engagement and human rights manager, Claus Teilmann Petersen, said during a panel discussion teeing up the summit. 'I see this battle as being… kind of lost.' Then there is the active threat posed by the Trump administration, which has pulled the US out of the Paris Climate agreement, slashed funding from programmes focused on labour rights and climate action and launched a chaotic trade war that has plunged much of the industry into survival mode. Instead of looking for progress, many in the space are just trying to figure out what can be saved. 'There's this sort of paralysis that's happening right now,' the American Apparel and Footwear Association's senior director for sustainability Chelsea Murtha told the summit. 'Everyone's trying to figure out what can we continue to hold onto.' What Next? On the sidelines, many insiders acknowledged the movement is running on fumes. Already some companies are making small sustainability sacrifices in the name of economising, opting to switch out pricier lower impact materials for cheaper, more conventional ones, I was told. Attendees said expected companies to largely stay the course with programmes already in place, but acknowledged the uncertainty was likely to slow future action. It's not clear where new momentum could come from. Until there's more clarity on tariffs, the industry is holding a collective breath. The EU is still pushing forward with regulations that would set more sustainable design and recycling requirements, but these have yet to be fully defined. Alongside the usual calls for more collective action and innovation, there was a greater focus on the importance of advocacy in favour of policies that could lend fresh support to fashion's climate efforts. 'We need to have courage,' said slow fashion pioneer Eileen Fisher. 'We have to do more and show up and collaborate more.' The real remaining wild card is climate change itself. This year is once again on track to be one of the warmest on record. Increasingly extreme weather is a threat to raw material supply chains, worker safety and retail traffic. So far, disruptions from floods, wildfires and searing heat have not led to significant disruptions for the industry. Still, with future costs of climate change expected to mount into the trillions of dollars in the future, fashion may come to regret complacency today. THE NEWS IN BRIEF FASHION, BUSINESS AND THE ECONOMY (Getty Images) Gucci owner Kering is in talks to sell its stake in a $1 billion Fifth Avenue property. The negotiations to sell the 115,00-square-foot property which Kering purchased last year to buyout group Ardian are part of the French luxury group's strategy to cut costs and sell stakes in prime real estate to shrink its debt, Reuters reported. Lululemon cut its annual profit forecast as demand slows amid looming tariffs. Despite new product offerings, the activewear company's sales momentum is lagging behind that of competitors like Alo Yoga and Vuori. Stock plummeted 12 percent in after-market trading on Thursday. Prada acquired a 10 percent stake in Italian leather group Rino Mastrotto. Under the deal, which comes as the Italian luxury group aims to shore up control over its production processes, Prada will give the Renaissance Partners-backed leather group a cash investment of undisclosed value and two tanneries. Cartier reported some customer data was stolen in a cyberattack. The Richemont-owned jeweller's client information, including email addresses, countries and names, was obtained by cybercriminals after its website was hacked. The incident is the latest in a wave of cyberattacks on retailers. Rent the Runway forecast double-digit subscriber growth in 2025. Shares rose 12 percent Thursday afternoon after the rental service announced it had ended its most recent quarter with a record number of active subscribers. Year-on-year revenue fell 7.2 percent to $70 million. De Beers drew interest from ex-CEOs as Anglo started its sale. Anglo American Plc plans to begin a formal sales process for De Beers, the final step in its restructuring plan. Former De Beers CEOs Gareth Penny and Bruce Cleaver, and Australian miner Michael O'Keeffe are reportedly each leading groups of potential buyers. A Skechers shareholder sued the company over details on the $9.4 billion 3G buyout. The shareholder alleged founder and controlling shareholder Robert Greenberg to have 'controlled the sales process to a single bidder and deprived the minority stockholders of any legitimate bidding process,' according to the legal complaint. Shein was hit with a complaint from an EU consumer group over 'dark patterns.' Pan-European consumer organisation BEUC filed a complaint with the European Commission on Thursday, citing 'aggressive commercial practices' like pop-ups, notifications and countdown timers that pressure people to make a purchase on Shein's app and website. Victoria's Secret said a cyber incident led to its temporary website shutdown. The intimates chain said it detected an information technology systems-related security incident, which caused it to shut down its website between May 26 and May 29. The incident did not impact its first-quarter financial results. Temu's daily US users have halved following the end of the 'de minimis' loophole. The site's daily US users plummeted 58 percent in May. Both Temu and Shein have suffered a severe drop in sales and customer growth rates since US President Trump announced sweeping trade tariffs and the end of low-value duty-free shipments from China. Sotheby's will auction an original Hermès bag that belonged to Jane Birkin. The black leather handbag, which was initially commissioned in 1984 for the late singer before being commercialised under her name, will be made available for sale in Paris on July 10. THE BUSINESS OF BEAUTY (Huda Beauty) Huda Kattan bought back Huda Beauty. Iraqi-American beauty influencer Kattan regained full ownership of her eponymous brand after buying back a minority stake that private equity firm TSG Consumer Partners had held since 2017. L'Oréal is reportedly poised to acquire Medik8. The Financial Times reported that the British skincare brand's current owner, private equity group Inflexion, and L'Oréal are close to finalising an agreement. Procter & Gamble will cut 7,000 jobs over two years. The manufacturing company announced it would cut about 6 percent of its global workforce, with plans to exit some categories and brands in individual markets. PEOPLE () Nike's CEO finished his C-suite makeover with a former McDonald's executive. McDonald's senior VP Michael Gonda will join the world's largest sportswear brand as chief communications officer in July, the latest leadership reshuffling under the turnaround strategy of CEO Elliott Hill, who rejoined Nike from retirement in October. Better Cotton appointed Nick Weatherill CEO. Weatherill, a former International Cocoa Initiative executive director, will succeed longtime CEO Alan McClay. The 20-year-old sustainable cotton initiative now certifies a fifth of the world's cotton production, but is amping up its oversight following criticism that its standards are too lenient. Kiko Milano named Drew Elliott its chief brand officer. Elliot, the former MAC Cosmetics global creative director, will assume the chief brand officer role on Sept. 1. The appointment comes as the Italian cosmetics company looks to expand its presence in the US market. Violet Grey named a former Bluemercury executive as group president. Tracy Kline will join the beauty retailer as group president on June 9, overseeing the company's team, supply chain, stores, merchandising and marketing. Longtime beauty editor Jane Larkworthy died at 62. Larkworthy, who served as the beauty director of W magazine and more recently as a columnist for New York Magazine's The Cut, is credited as the editor responsible for popularising Le Labo's Santal 33. She died on Wednesday after a battle with cancer. Compiled by Jessica Kwon.
Daily Record
08-05-2025
- Politics
- Daily Record
Anti-Trump artwork appears on beach outside US President's luxury golf resort in Ayrshire
The artwork, from Greenpeace UK, was etched in the sand to 'mark' the first 100 days of the US President's second term of office in the Whitehouse. A huge Donald Trump artwork appeared on the beach last week outside the US President's luxury golf resort at Turnberry. The artwork, from Greenpeace UK, was etched in the sand to 'mark' the first 100 days of the president's second term of office in the Whitehouse. The mural, some 55m by 40m, depicts the face of Trump ranked in the sand, with the message 'Time to resist – fight the billionaire takeover.' Areeba Hamid, co-executive director of Greenpeace UK, said: 'During his first 100 days President Trump has been actively working to dismantle and weaken environmental protections and attack those who fight to protect nature and our shared climate, putting the corporate profits of his billionaire friends ahead of people and the planet. It's time to resist the billionaire takeover of our rights and freedoms.' The artwork took several hours to draw out in the sand overnight, by a team from arts organisation 'Sand in Your Eye' and Greenpeace UK. According to Greenpeace, during the Trump administration's first 100 days the president has not only left the Paris Climate agreement and offered Alaskan wilderness to oil drilling, he has also opened up pristine marine ecosystems in the Pacific to industrial fishing. The group also accuse Trump of wanting to launch deep sea mining in the US and International waters, end investments in clean energy and instead boost coal, oil and fossil gas by 'weakening' regulations and 'removing obstacles' for the fossil fuel industry. Areeba continued: 'Trump's biggest allies are a group of unelected billionaires, including the fossil fuel company CEOs who are knowingly burning the planet, polluting our waters, and hurting communities around the world. No one voted for these corporate bullies to end free speech, but they will stop at nothing to keep their oil and gas empire alive – even weaponising the legal system to crush dissent and silence environmental activism.' Areeba added: 'For the billionaires and big oil companies this is not just another source of money. They want to silence all critics and any protests against the core issue with their business: fossil fuels that are causing the climate crisis and environmental destruction.' Greenpeace UK activists have also been 'subvertising' bus stops around the US embassy in Nine Elms, London, with posters carrying the same messaging. This latest stunt comes after seven people were arrested in connection with vandalism at Trump Turnberry in which red paint was thrown over the clubhouse. The greens on the course were also dug up and marker flags were pulled down during the early morning attack on March 8.
AsiaOne
01-05-2025
- Politics
- AsiaOne
Trump's Scottish golf course targeted by Greenpeace sand protest, World News
LONDON — Golfers teeing off at Trump Turnberry in Scotland on Wednesday (April 30) would have been oblivious to Greenpeace's protest against the US President on the sand a few hundred metres away, which was only properly visible from the air. Environmental group Greenpeace said its activists raked Donald Trump's portrait into the sandy beach alongside the message "Time to resist — fight the billionaire takeover". The group released aerial footage of the image which was about half the size of a football pitch to mark the first 100 days of Trump's second term, during which time the US has left the Paris Climate agreement and backed coal and oil projects. For Trump Turnberry, it is the second time in two months protesters have targeted the luxury golf resort, located on the west coast of Scotland, 50 miles south of Glasgow. Pro-Palestinian graffiti was daubed on walls at the course and "Gaza is not for sale" painted on one of the greens on March 8. Greenpeace said it worked with an arts organisation to draw in the sand overnight. The image was later washed away by the tide. "During his first 100 days President Trump has been actively working to dismantle and weaken environmental protections and attack those who fight to protect nature and our shared climate," Areeba Hamid, co-executive director of Greenpeace UK, said in a statement. ALSO READ: Trump says to unleash American fossil fuels, halt climate co-operation
Reuters
30-04-2025
- Politics
- Reuters
Trump's Scottish golf course targeted by Greenpeace sand protest
LONDON, April 30 (Reuters) - Golfers teeing off at Trump Turnberry in Scotland on Wednesday would have been oblivious to Greenpeace's protest against the U.S. President on the sand a few hundred metres away, which was only properly visible from the air. Environmental group Greenpeace said its activists raked Donald Trump's portrait into the sandy beach alongside the message "Time to resist - fight the billionaire takeover". The Reuters Tariff Watch newsletter is your daily guide to the latest global trade and tariff news. Sign up here. The group released aerial footage of the image which was about half the size of a football pitch to mark the first 100 days of Trump's second term, during which time the U.S. has left the Paris Climate agreement and backed coal and oil projects. For Trump Turnberry, it is the second time in two months protesters have targeted the luxury golf resort, located on the west coast of Scotland, 50 miles south of Glasgow. Pro-Palestinian graffiti was daubed on walls at the course and "Gaza is not for sale" painted on one of the greens on March 8. Greenpeace said it worked with an arts organisation to draw in the sand overnight. The image was later washed away by the tide. "During his first 100 days President Trump has been actively working to dismantle and weaken environmental protections and attack those who fight to protect nature and our shared climate," Areeba Hamid, co-executive director of Greenpeace UK, said in a statement.
Straits Times
30-04-2025
- Politics
- Straits Times
Trump's Scottish golf course targeted by Greenpeace sand protest
LONDON - Golfers teeing off at Trump Turnberry in Scotland on Wednesday would have been oblivious to Greenpeace's protest against the U.S. President on the sand a few hundred metres away, which was only properly visible from the air. Environmental group Greenpeace said its activists raked Donald Trump's portrait into the sandy beach alongside the message "Time to resist - fight the billionaire takeover". The group released aerial footage of the image which was about half the size of a football pitch to mark the first 100 days of Trump's second term, during which time the U.S. has left the Paris Climate agreement and backed coal and oil projects. For Trump Turnberry, it is the second time in two months protesters have targeted the luxury golf resort, located on the west coast of Scotland, 50 miles south of Glasgow. Pro-Palestinian graffiti was daubed on walls at the course and "Gaza is not for sale" painted on one of the greens on March 8. Greenpeace said it worked with an arts organisation to draw in the sand overnight. The image was later washed away by the tide. "During his first 100 days President Trump has been actively working to dismantle and weaken environmental protections and attack those who fight to protect nature and our shared climate," Areeba Hamid, co-executive director of Greenpeace UK, said in a statement. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
